A number of household-name companies around the globe and...

A number of household-name companies around the globe and desperate to establish LONG-TERM guaranteed supply of Rare Earth metals outside of China. When looking for sources of supply coming into production within the next 5 years, there really are very few options. Consequently Arafura Resources is sitting in the box seat. Nolans bore is a world-class, globally significant resource in a commodity group of huge strategic and political importance. Arafura's management team are actively negotiating with several potential JV partners and have been doing so for quite some time. If you believe the figures in an ultra-conservative PFS will closely resemble the final economics of the project you need to do some more research IMHO.

From the PFS:

"The Company has been engaging and assessing the credentials of various organisations that could provide
Arafura with technical, financial or marketing assistance to develop the Nolans Project. The pre-feasibility
data will enable informed decision making processes for the potential of a Joint Venture. These discussions
will focus on off-takes of products, their prices and the development of the optimum balance between
equity and debt and partner capital that delivers the best return to shareholders.

Arafura has already identified many process improvements that will significantly improve the project’s
financial return and improve operating outcomes. These include the manufacture of some key chemicals
adjacent to the project process plant, which eliminates many operating and capital costs of transport
associated with chemical imports.

In order to optimise chemical supply, costs and risks, the Company continues to build on its existing
relationships with potential suppliers and to encourage supplier collaboration. Arafura also continues to
assess the appropriate location for the processing plant on the basis that essential inputs of water, gas,
power and appropriate industrial land are critical to the project’s economics and long term future."